Dear All, I will be away tomorrow talking in Lancaster. Here are the details in case any of you can make it. On Wednesday 24th November I will be in Lancaster for the official launch of The Debt Generation. I will be speaking at 3 different events in the city. Lancaster Central Library – 1pm to […]
Headline in the FT this morning, “Europe signs up to Irish rescue.” That is how the financial class would like you to see it. A more accurate description is “Europe signs up to use Ireland as a conduit for bailing out its own banks and gets Irish tax payers to foot the bill.” Less catchy
Coninued from part one. If you haven’t read part one and have the time to do so, it helps with this one. CDS insurance gave some bright sparks an idea. The insurance is otherwise known as a CDS – Credit Default Swap. The similarity to CDO (Collateralized Debt Obligation) is irritating but don’t let it deflect you. It’s just
CDOs – Part 2 – How the banks bet our house would burn down Read More »
Now across Europe the great blame game will rumble back into play. Our banks, your banks, their banks, or is it your feckless householders or ours, certainly can’t be theirs, they’re still doing well in Germany. Expect lots more national stereotypes to be wheeled out for ritual defamation. So let’s ask who it was took
Who bankrupted Ireland? Read More »
This is NOT and never was a sovereign debt problem. It has always been a private bank problem which is merely being laundered through some unfortunate nations. I am not saying certain nations do not have their own governmental debt problems. They do. Some of them are large and are due to stupidity having mated
Private Bank debt laundering Read More »
Ireland have a bank run on their hands and they now do not have much time in which to stop it running out of control. Yesterday I argued that Ireland was resisting a bail out because it does not want to be forced to raise its corporation tax. If Ireland is forced to do it,
When other countries are lining up to get a bail out Ireland is fighting tooth and nail to avoid one. Why? Does it not seems a little strange to you? I want to suggest that many experts are looking in the wrong place for an answer. A major part of the reason Ireland is resisting
Why Ireland is resisting the bail out. Read More »
We have been very kindly offered a private house in Edinburgh as a venue for a talk about the book and blog and a general chance to meet up and discuss things. It wil be on 30th November, starting at 7.30 pm. If any of you are interested would you please drop me an email?
Talk and get together in Edinburgh Read More »
Basically we are in a ship that is coming apart as a rough sea starts to come over the top of her. Rates on US Debt are creeping up. If they continue up then the US housing market and the recovery based unsteadily on it will collapse in rubble. In the UK inflation is now
Speculation on the Dollar’s demise and other peachy things Read More »
Well we’re deep into the next wave of bank and bail-out propaganda. Notable so far has been Channel Four covering themselves in glory once again. You can always count on Channel Four as a bellwether of how concerned the well to do chattering class is. Always to be relied upon to do the corporate world’s work
CDOs- how the banks burnt our houses down – Part One Read More »
